STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$ 52,432,307	$ 13,375,058
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depletion of Oil and Gas Properties	43,829,309	15,213,079
Depreciation and Amortization	199,396	138,608
Amortization of Debt Issuance Costs	532,264	180,341
Accretion of Discount on Asset Retirement Obligations	37,453	12,524
Deferred Income Taxes	34,660,000	8,550,000
Net Gain on Sale of Available for Sale Securities	0	(215,092)
Unrealized (Gain) Loss on Derivative Instruments	(40,434,398)	430,397
Amortization of Deferred Rent	(16,615)	(9,287)
Share - Based Compensation Expense	4,296,899	3,363,345
Changes in Working Capital and Other Items:
Increase in Trade Receivables	(14,644,692)	(13,552,651)
Increase in Prepaid Expenses	(388,791)	(173,146)
Decrease in Other Current Assets	76,909	264,952
Increase in Accounts Payable	288,100	7,916,402
Increase in Accrued Expenses	4,693,308	158
Net Cash Provided By Operating Activities	85,561,449	35,494,688
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of Oil and Gas Properties and Development Capital Expenditures	(283,868,815)	(154,374,342)
Advances to Operators	0	(2,529,779)
Proceeds from Sale of Oil and Gas Properties	0	5,027,162
Proceeds from Sale of Available for Sale Securities	0	58,606,328
Purchases of Available for Sale Securities	0	(18,381,690)
Purchases of Other Equipment and Furniture	(172,605)	(73,692)
Net Cash Used For Investing Activities	(284,041,420)	(111,726,013)
CASH FLOWS FROM FINANCING ACTIVITIES
Advances on Revolving Credit Facility	322,600,000	0
Repayments on Revolving Credit Facility	(392,500,000)	0
Advances on Senior Unsecured Notes	300,000,000	0
Debt Issuance Costs Paid	(11,590,886)	0
Repurchase of Common Stock	(1,173,315)	0
Proceeds from Exercise of Stock Options	36,260	0
Proceeds from Exercise of Warrants	0	1,500,000
Net Cash Provided by Financing Activities	217,372,059	1,500,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	18,892,088	(74,731,325)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	6,279,587	152,110,701
CASH AND CASH EQUIVALENTS - END OF PERIOD	25,171,675	77,379,376
Supplemental Disclosure of Cash Flow Information
Cash Paid During the Period for Interest	1,922,026	0
Cash Paid During the Period for Income Taxes	5,350	0
Non-Cash Financing and Investing Activities:
Payment of Compensation through Issuance of Common Stock	10,311,964	12,227,060
Capitalized Asset Retirement Obligations	302,353	199,996
Non-Cash Compensation Capitalized in Oil and Gas Properties	$ 6,015,065	$ 8,863,715